Possible Bid for French Company's GVT Unit Would Counter Offer From Spain's Telefónica

Telecom Italia SpA confirmed it is considering making an offer to Vivendi SA to merge its Brazilian telecom unit TIM Participacoes SA with the French company's GVT SA unit.

The company said no offer has been finalized or made. It made the disclosure in a regulatory filing in response to Brazilian stock exchange requests for clarification following media reports that Telecom Italia was interested in acquiring GVT.